Cathy Porterfield, ABR

Associate Broker

Pending home sales are higher, affirming the stabilization that is occurring in home sales, according to the National Association of Realtors®.

Based on contracts signed in December, rose 4.9 The monthly gain was the biggest increase since March 2004 when the index rose 6.9 percent. A steady narrowing from year-ago readings has been observed since last July when the level of unsold housing inventory peaked at an all-time high.

NAR’s (National Association of Realtor's chief economist, reported a moderate rise in existing-home contracts. It appears buyers are becoming more comfortable, sensing the timing is good and that their local market has bottomed out,” he said. “I expect modest sales gains throughout the year, with what I believe are sustainable levels of activity. 2007 promises to be the fourth best year on record.”

The index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed and the transaction has not closed, but the sale usually is finalized within one or two months of signing.

An index of 100 is equal to the average level of contract activity during 2001, the first year to be examined and the first of five consecutive record years for existing-home sales. There is a closer relationship between annual changes in the index and actual market performance than with month-to-month comparisons.

The upturn was broad based, with all regions showing an increase. The Pending Home Sale's in the Northeast jumped 8.1 percent in December to 89.9 but was 4.8 percent below a year ago. The index in the West rose 5.3 percent to 112.2 but was 4.9 percent below December 2005. The index in the South increased 4.3 percent to 129.8 but was 4.2 percent lower than a year earlier. In the Midwest, the index was up 3.2 percent in December to 103.2 but was 4.3 percent below December 2005.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Buying or Selling your Home? TucsonMeans, The Foothills, Oro Valley, Dove Mountain, Sun City Vistoso, Continental Ranch Area, Vail, and surrounding areas. As an Associate Broker with Long Realty, and an Accredited Buyers Broker, (ABR), a member of Long Realty's Directors Circle I have had to privilege to work with many wonderful professional both Buying and Selling their homes. I Pride myself in being a dedicated, honest, and True Professional with unmatched integrity, dedicated to assisting you to Succeed in reaching your Goals. Eleven years of experience and in the Top 2% of Realtors Nationwide I hold the prerequisite of Knowledge and Experience to help you sell your Home quickly while Maximizing the Return on your Investment. I am Driven to help you find that Special Home to Purchase, and guide you through each step of the buying or selling process from beginning to end, assisting you in everyaspect of buying or selling a home.

Appreciation of Personalized Service, Professionalism, and Knowledge of Today’s Market is marked by the wonderful tribute by past clients and friends with their many Referrals. Working with wonderful people, in search of finding or selling their home is a gift never taken for granted and how my business continues to grow You can also visit my website at www.cathyporterfield.com.